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Recovery Report: Hexion Specialty Chemicals Inc.'s Recovery Rating Profile Jun 09 Product Image

Recovery Report: Hexion Specialty Chemicals Inc.'s Recovery Rating Profile Jun 09

  • Published: June 2009
  • Standard & Poors

Abstract
On June 29, 2009, Standard & Poor's Ratings Services revised its issue level ratings and recovery ratings on Hexion Specialty Chemicals Inc.'s senior secured debt, second-lien debt, and unsecured senior debentures. We revised the issue-level rating on the senior secured debt to 'CCC+' (same as the corporate credit rating) from 'B-'. The recovery rating was revised to '4', which indicates our expectation for an average (30%-50%) recovery in the event of a payment default, from '2'. We revised the issue-level rating on the second-lien notes to 'CCC' (one notch lower than the corporate credit rating) from 'D'. The recovery rating was revised to '5', which indicates our expectation for a modest (10%-30%) recovery in the event of a payment default,...

Companies mentioned in this report are: Momentive Specialty Chemicals Inc.,Hexion U.S. Finance Corp.,Hexion Nova Scotia Finance ULC

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings READ MORE >

Momentive Specialty Chemicals Inc.,Hexion U.S. Finance Corp.,Hexion Nova Scotia Finance ULC

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